Reunion Neuroscience jumps 91% on acquisition by MPM BioImpact
- MPM BioImpact to acquire clinical-stage biopharmaceutical company, Reunion Neuroscience (NASDAQ:REUN) in an all-cash transaction valued at ~$13.1M.
- All holders of Reunion shares will be entitled to receive $1.12 in cash for each share held immediately prior to the effective time of the arrangement.
- Based on the Bank of Canada daily exchange rate as of the close of business on May 31, 2023, this would be ~$1.52 per share in Canadian dollars, representing a premium of ~43.1% over the trailing 30-trading-day volume weighted average price.
- The closing of the agreement remains subject to a number of conditions.
- The stock price climbs 91% on acquisition news on Thursday pre-market.